R.J. Walsh Consulting Ltd trading as Walsh Consulting
These Terms of Business set out the general terms under which our firm will provide business services
to you and the respective duties and responsibilities of both the firm and you in relation to such
services. Please ensure that you read these terms thoroughly and if you have any queries we will be
happy to clarify them. If any material changes are made to these terms we will notify you.
Authorisation with the Central Bank of Ireland
R.J. Walsh Consulting Ltd trading as Walsh Consulting (Central Bank Reference Number C7203) is
regulated by the Central Bank of Ireland as an insurance intermediary registered under the European
Union (Insurance Distribution) Regulations 2018; as an Investment Intermediary authorised under the
Investment Intermediaries Act 1995; as a Mortgage Intermediary authorised under the Consumer
Credit Act 1995 and as a Mortgage Credit Intermediary under the European Union (Consumer
Mortgage Credit agreements) Regulations 2016. Copies of our regulatory authorisations are available
on request. The Central Bank of Ireland holds registers of regulated firms. You may contact the Central
Bank of Ireland on 1890 777 777 or alternatively visit their website at www.centralbank.ie to verify
Codes of Conduct
R.J. Walsh Consulting Ltd is subject to the Consumer Protection Code, Minimum Competency Code
and Fitness & Probity Standards which offer protection to consumers. These Codes can be found on
the Central Bank’s website www.centralbank.ie
R.J. Walsh Consulting Ltd acts an authorised financial broker and is a member of Brokers Ireland.
Our principal business is to provide advice and arrange transactions on behalf of clients in relation to
life & pensions, mortgages, investments, savings, and health insurance products. A full list of insurers,
product producers and lending agencies with which we deal is available on request.
The principal regulated activities of the firm are provided on the basis of a fair analysis of the market.
You have the option to pay in full for our services by means of a fee.
Fair and Personal Analysis
The concept of fair and personal analysis describes the extent of the choice of products and providers
offered by an intermediary within a particular category of life assurance, general insurance,
mortgages, and/ or a specialist area. The number of contracts and providers considered must be
sufficiently large to enable an intermediary to recommend a product that would be adequate to meet
a client’s needs.
The number of providers that constitutes ‘sufficiently large’ will vary depending on the number of
providers operating in the market for a particular product or service and their relative importance in
and share of that market. The extent of fair and personal analysis must be such that could be
reasonably expected of a professional conducting business, taking into account the accessibility of
information and product placement to intermediaries and the cost of the search.
In order to ensure that the number of contracts and providers is sufficiently large to constitute a fair
analysis of the market, we will consider the following criteria:
Investment Intermediary Services
- the needs of the customer,
- the size of the customer order,
- the number of providers in the market that deal with brokers,
- the market share of each of those providers,
- the number of relevant products available from each provider,
- the availability of information about the products,
- the quality of the product and service provided by the provider,
- cost, and
- any other relevant consideration.
We are remunerated by commission for our investment intermediary services.
We are remunerated by commission for the advice we provide on our insurance based investment
Commission details can be found on our website www.walshgroup.ie
Life, Pensions, Investments & Deposits
R.J. Walsh Consulting Ltd provides life assurance, pensions, investment and deposits on a fair and
personal analysis basis i.e. providing services on the basis of a sufficiently large number of contracts
and product producers available on the market to enable us to make a recommendation, in
accordance with professional criteria, regarding which contract would be adequate to meet the your
We will provide assistance to you for any queries you may have in relation to the policies or in the
event of a claim during the life of the policies and we will explain to you the various restrictions,
conditions and exclusions attached to your policy. However, it is your responsibility to read the policy
documents, literature and brochures to ensure that you understand the nature of the policy cover;
particularly in relation to personal health insurance policies and serious illness policies.
Specifically on the subject of permanent health insurance policies, it is our policy to explain to you a)
the meaning of disability as defined in the policy; b) the benefits available under the policy; c) the
general exclusions that apply to the policy; and d) the reductions applied to the benefit where there
are disability payments from other sources.
For a serious illness policy, we will explain clearly to you the restrictions, conditions and general
exclusions that attach to that policy.
R.J Walsh Consulting Ltd can provide advice on and arrange health insurance.
R.J Walsh Consulting Ltd provides health insurance on a limited analysis basis (providing services on
the basis of a limited number of contracts and product producers available on the market).
We provide advice on the following product provider:
Irish Life Health dac
In some cases we may be granted authority from an insurance undertaking to conduct tasks on their
behalf, for which we will be remunerated. Where we place your business with this insurance
undertaking under this authority you will be notified in advance of the placement. Details of
remuneration are available on our website, www.walshgroup.ie.
We will also offer assistance to you in relation to processing claims on policies taken out with us and
in seeking renewal terms on your cover.
To ensure continuity of cover, where you have an existing policy which is due to expire and where we
have been unable to contact you, we may put continuing cover in force whilst awaiting your
instruction. You will be liable for any premiums payable to the relevant insurer for the period of time
between renewal and when we receive your instruction. You have the right not to avail of this service.
Through the lenders or other undertakings with which we hold an agency, R.J. Walsh Consulting Ltd
can provide advice on and arrange mortgage products from the following range: fixed-rate loans,
variable rate mortgages, capital & interest mortgages, interest only mortgages, endowment
mortgages, pension mortgages and residential investment property.
R.J. Walsh Consulting Ltd provides mortgage advice on a fair and personal analysis basis (providing
services on the basis of a sufficiently large number of contracts and product producers available on
the market to enable the firm to make a recommendation, in accordance with professional criteria,
regarding which contract would be adequate to meet your needs).
We will need to collect sufficient information from you before we can offer any advice on housing
loans. This is due to the fact that a key issue in relation to mortgage advice is affordability. Such
information should be produced promptly upon our request.
Statement of Charges
R.J. Walsh Consulting Ltd is remunerated by commission, fee and any other type of renumeration
including a non-monetary benefit or on the basis of a combination of these methods. A non-monetary
benefit will only be accepted if it enhances the quality of the service to our clients. Details of such fee,
commission other reward or remuneration paid or provided to us which have agreed with product
providers are available on our website, www.walshgrop.ie. You may choose to pay in full for our
services by means of a fee. Where we receive recurring commission, this forms part of the
remuneration for initial advice provided. We reserve the right to charge additional fees if the number
of hours relating to on-going advice/assistance exceeds 3 hrs.
In certain circumstances, it will be necessary to charge a fee for services provided. These are listed
below for life, pensions, investments, deposits, mortgage and non-life business. In other
circumstances where fees are chargeable or where you choose to pay in full for our service by fee, we
will notify you in writing in advance and agree the scale of fees to be charged if different from fees
If we receive commission from a product provider, this may be offset against the fee which we will
charge you. Where the commission is greater than the fee due, the commission may become the
amount payable to the firm unless an arrangement to the contrary is made.
Life, Pension, Investment, Deposit, Mortgage & Non-Life Fees
You may elect to deal with us on a fee basis.
||€500 per hour
||€250 per hour
||€100 per hour
||€100 per hour
Additional fees may be payable for complex cases or to reflect value, specialist skills or urgency. We
will notify you of any such additional fees, and agree the scale of fees to be charged, in advance.
R.J. Walsh Consulting Ltd is remunerated by commission from insurers on completion of business.
Details of this remuneration are available on our website, www.walshgroup.ie. Where an override
commission is received, this will be disclosed to you in general terms. We do not charge a fee in
addition to commission that is received.
We may receive up to 1% (or whatever maximum is applicable) of the loan for arranging mortgage
finance. This commission is paid by the mortgage lender and details are available on our website,
www.walshgroup.ie. The actual amount of commission will also be disclosed at a later stage in the
ESIS (European Standardised Information Sheet) which will be forwarded to you. Information on the
variation in levels of commission payable by the different creditors providing credit agreements being
offered are available on request.
Please note that lenders may charge specific fees in certain circumstances and if this applies, these
fees will be specified in your Loan Offer. You have the right to pay a fee separately and not include it
in the loan. Typically, this situation arises in relation to specialist lending.
We charge a fee of €500 for advising on a mortgage application, this fee is non-refundable. This is not
in any way an indication of mortgage/loan approval. Our fee will be notified to the lender who will
include this fee into the calculation of the APRC (Annual Percentage Rate Charge).
If we provide mortgage advice and obtain a Loan Offer for you and you subsequently do not proceed
with your mortgage application through our firm, we will charge you an arrangement fee of €500 for
Ongoing suitability assessments form part of the service to clients. On an annual basis the firm will
issue a client report outlining changes in the services or instruments involved and/or the
circumstances of the client.
Insurance based Investment Products
We will provide periodic assessments of the suitability of the insurance based investment product
which we have recommended to you.
It is in your best interests that you review, on a regular basis, the products which we have arranged
for you. As your circumstances change, your needs will change. You must advise us of those changes
and request a review of the relevant policy so that we can ensure that you are provided with up to
date advice and products best suited to your needs. Failure to contact us in relation to changes in your
circumstances or failure to request a review, may result in you having insufficient insurance cover
and/or inappropriate investments.
Disclosure of Information
Any failure to disclose material information may invalidate your claim and render your policy void.
Conflicts of interest
It is the policy of our firm to avoid conflicts of interest in providing services to you. However, where
an unavoidable conflict of interest arises we will advise you of this in writing before providing you with
any service. If you have not been advised of any such conflict you are entitled to assume that none
arises. A full copy of our conflicts of interest policy is available on request.
Default on payments by clients
R.J. Walsh Consulting Ltd will, if necessary, exercise its legal rights to receive payments due to it from
clients (fees and insurance premiums) for services provided. In particular, without limitation to the
generality of the foregoing, the firm will seek reimbursement for all payments made to insurers on
behalf of clients where the firm has acted in good faith in renewing a policy of insurance for the client.
Product producers may withdraw benefits or cover in the event of default on payments due under
policies of insurance or other products arranged for you. We would refer you to policy documents or
product terms for the details of such provisions.
Mortgage lenders may seek early repayment of a loan and interest if you default on your repayments.
Your home is at risk if you do not maintain your agreed repayments.
Whilst we are happy to receive verbal complaints, it would be preferable that any complaints are
made, in writing. We will acknowledge your complaint within 5 business days and we will fully
investigate it. We shall investigate the complaint as swiftly as possible, and, the complainant will
receive an update on the complaint at intervals of not greater than 20 business days starting from the
date on which the complaint is made. On completion of our investigation, we will provide you with a
written report of the outcome. In the event that you are still dissatisfied with our handling of or
response to your complaint, you are entitled to refer the matter to the Financial Services Pensions
Ombudsman. A full copy of our complaints procedure is available on request.
We are subject to the requirements of the General Data Protection Regulation 2018 and the Irish Data
Protection Act 2018.
R.J. Walsh Consulting Ltd is committed to protecting and respecting your privacy. We wish to be
transparent on how we process your data and show you that we are accountable with the GDPR in
relation to not only processing your data but ensuring you understand your rights as a client.
The data will be processed only in ways compatible with the purposes for which it was given and as
outlined in our Data Privacy Notice which will be given to all our clients at the time of data collection.
We will ensure that this Privacy Notice is easily assessible. Please refer to our website,
www.walshgroup.ie . If this medium is not suitable we will ensure you can easily receive a copy by
hard copy or by email.
Please contact us at email@example.com if you have any concerns about your personal data.
We are members of the Investor Compensation Scheme operated by the Investor Compensation
Company Ltd. See below for details.
Investor Compensation Scheme
The Investor Compensation Act, 1998 provides for the establishment of a compensation scheme and
the payment, in certain circumstances, of compensation to certain clients (known as eligible investors)
of authorised investment firms, as defined in that Act.
The Investor Compensation Company Ltd. (ICCL) was established under the 1998 Act to operate such
a compensation scheme and our firm is a member of this scheme.
Compensation may be payable where money or investment instruments owed or belonging to clients
and held, administered or managed by the firm cannot be returned to those clients for the time being
and where there is no reasonably foreseeable opportunity of the firm being able to do so.
A right to compensation will arise only:
- If the client is an eligible investor as defined in the Act; and
- If it transpires that the firm is not in a position to return client money or investment instruments
owned or belonging to the clients of the firm; and
- To the extent that the client’s loss is recognised for the purposes of the Act.
Where an entitlement to compensation is established, the compensation payable will be the lesser of:
- 90% of the amount of the client’s loss which is recognised for the purposes of the Investor
- Compensation Act, 1998; or
- Compensation of up to €20,000.
For further information, contact the Investor Compensation Company Ltd. at (01) 224 4955.
Brokers Ireland Compensation Fund
We are also members of the Brokers Ireland Compensation Fund. Subject to the rules of the scheme
the liabilities of its members firms up to a maximum of €100,000 per client (or €250,000 in aggregate)
may be discharged by the fund on its behalf if the member firm is unable to do so, where the above
detailed Investor Compensation Scheme has failed to adequately compensate any client of the
member. Further details are available on request.